SAExploration Announces $70 Million of New Project Awards in Alaska
and South America

February 24, 2014 04:20 PM Eastern Standard Time

HOUSTON--(BUSINESS WIRE)--SAExploration Holdings, Inc. (NASDAQ: SAEX, OTCBB: SAEXW) today
announced three new project awards for logistical services and seismic
data acquisition in South America, along with the resumption of a
project in Alaska for similar services. The aggregate value of these
projects is approximately $70 million.

SAE plans to initiate operations during Q1 2014 on a 3D project in the
dense jungle rainforest of South America. The Company expects to utilize
wireless recording equipment for the data acquisition phase of this
project, marking a growing shift in technological trends in the region.
The Company also plans to mobilize separate crews in Q2 and Q3 2014 to
conduct new 2D and 3D projects in South America. Both projects will
cover equally difficult terrain and require specialized knowledge of the
surrounding environments.

In Alaska, SAE received a direct award from a long-standing customer to
resume part of a larger 3D project in the Cook Inlet, involving shallow
water, transition zone and onshore seismic data acquisition and
logistical services. The project is expected to begin during Q1 2014.

As characteristic of SAE, the Company will provide a full suite of
in-house logistical services in advance of and throughout the life of
these projects.

Brian Beatty, President and CEO of SAE, commented, “These new project
awards reflect the strength of our business. In most of the markets
where we operate, we continue to benefit from robust bidding activity
and expanding international exploration efforts, aided by our focus on
more complex regions. We fully expect this international growth trend to
continue and we believe we are well positioned to capitalize on the
forthcoming opportunities.”

About SAExploration Holdings, Inc.

SAE is a leading, vertically-integrated provider of 2D, 3D and 4D
seismic data and logistical services with operations throughout South
America, North America, and Southeast Asia. SAE specializes in
logistically complex regions of the world, and provides a wide range of
services to its clients, including surveying, program design, logistical
support, data acquisition, processing, infrastructure implementation,
camp services, catering, environmental assessment and community
relations. SAE services its multinational client base from offices in
Houston, Alaska, Canada, Peru, Colombia, Bolivia, Brazil, New Zealand,
Malaysia and Ethiopia. For more information, please visit SAE’s website
at www.saexploration.com.

The information in SAE’s website is not, and shall not be deemed to be,
a part of this notice or incorporated in filings SAE makes with the SEC.

Forward Looking Statements

This press release contains certain "forward-looking statements" within
the meaning of the federal securities laws. These statements can be
identified by the use of words or phrases such as "believes,"
"estimates," "expects," "intends," "anticipates," "projects," "plans
to," “will,” “should” and variations of these words or similar words.
These forward-looking statements may include statements regarding SAE’s
financial condition, results of operations and business and SAE’s
expectations or beliefs concerning future periods. These statements are
subject to risks and uncertainties which may cause actual results to
differ materially from those stated in this release. These risks and
uncertainties include fluctuations in the levels of exploration and
development activity in the oil and gas industry, intense industry
competition, a limited number of customers, the need to manage rapid
growth, delays, reductions or cancellations of service contracts,
operational disruptions due to seasonality, weather and other external
factors, crew productivity, the availability of capital resources,
substantial international business exposing SAE to currency fluctuations
and global factors including economic, political and military
uncertainties, the need to comply with diverse and complex laws and
regulations, and other risks incorporated by reference to SAE’s filings
with the Securities and Exchange Commission. Certain risks and
uncertainties related to SAE’s business are or will be described in
greater detail in SAE’s filings with the Securities and Exchange
Commission. The information set forth herein should be read in light of
such risks. Except as required by applicable law, SAE is not under any
obligation to, and expressly disclaims any obligation to, update or
alter its forward-looking statements, whether as a result of new
information, future events, changes in assumptions or otherwise.